 May 19 - Shareholders in Grand Parade Investments (GPI), the
Western-Cape based empowerment group, will be pleased to note that the company
has announced that it will be listing on the JSE early next month under the
'financial' section..
GPI has more than a quarter economic interest share in Sun
International's SunWest, which owns the very popular GrandWest Casino in Cape
Town.
In addition, SunWest owns and operates the luxurious Table Bay Hotel
on Cape Town's Waterfront.
GPI also holds a 36.7% stake in the Golden Valley Casino in Worcester, as
well as an interest in Grand Slots which operates 1000 limited pay out slots in
the Western Cape.
The chairman of GPI, Hassan Adams said: "We intend to become a major player
in the leisure, gaming and hotel industries on the continent through playing a
highly active role in our investments, not just as a passive beneficiary. We
also intend exercising our options in SunWest which will increase our
economic interest in the company from the present 26.41% to 29.9%."
"GrandWest has recently undergone major expansion to increase its capacities
and its casino revenues now exceed those of Sun City. The Table Bay Hotel is
showing remarkable growth in occupancy and margins as tourism numbers increase.
The hotel at Golden Valley in Worcester was completed in April 2008."
In addition to its Cape gaming interests, GPI recently acquired 23% interest
in Real Africa Holdings, which holds countrywide gaming assets. Other recent
acquisitions have given GPI a strong foothold in the Kwazulu-Natal gaming
market.
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